People
Deutsche reshuffles ICG in Asia
TOKYO -- Deutsche Bank has made management changes to its institutional client group (ICG) in Asia and Australia.
NAB delays report on ‘rogue trading’ losses
MELBOURNE -- National Australia Bank (NAB) last week put back the planned publication of its report into unauthorised trading losses at the bank until mid-March.
RBS expands interbank sales
LONDON -- The Royal Bank of Scotland has expanded its interbank FX sales business, adding desks in New York and Asia to complement its existing London-based team, the bank announced last week.
StanChart restructures in Asia
SINGAPORE -- Standard Chartered Bank has reorganised its global markets structure in Asia and the Middle East by region, rather than by individual country.
DeAM breaks out forex group
LONDON -- Deutsche Asset Management (DeAM), a leading UK fund manager, has restructured its business around seven business-specific units to offer more customised boutique offerings to clients for every asset class, a spokesperson said last week. The…
RBC unveils new FX structure
TORONTO -- Royal Bank of Canada (RBC) has confirmed a new senior management structure in foreign exchange following the departure of global FX head David Gibbins.
Dalman stays at Commerz as results fall
FRANKFURT -- Commerzbank has denied German newspaper reports that Mehmet Dalman, head of investment banking, would leave the bank following the announcement of its 2003 financial results last week.
CSFB plans expansion to back office in Singapore
SINGAPORE -- Credit Suisse First Boston (CSFB) is planning to expand its back-office staff in Singapore, as part of a drive to use the centre to support the bank’s operations both regionally and globally.
NAB report to reveal ‘control breakdowns’
MELBOURNE -- Pricewaterhouse- Coopers’ (PWC) report on the forex options trading scandal that has shaken National Australia Bank (NAB) in recent weeks is expected to expose a number of risk control problems at the bank, Graham Kraehe, NAB’s new chairman,…
BarCap to expand Asian emerging markets
SINGAPORE -- Barclays Capital has transferred Avijit Agarwal, formerly head of treasury in Mumbai, to Singapore to manage the wider Asian emerging markets treasury business.
Italy seeks rule change on central bank boss’s tenure
ROME -- The Italian government is seeking to change the appointment terms of the governor of the Bank of Italy, in a move that could force the departure of Antonio Fazio.
Tradition takes 10% stake in IFX Group
LAUSANNE -- Swiss broker Compagnie Financière Tradition has taken a 10% stake in UK online trading firm IFX Group, the firm announced last week.
Fimat adds for hedge funds
LONDON -- Fimat, the brokerage arm of French investment bank SG, has consolidated its alternative investment offerings under the single brand Alternative Investment Solutions (AIS) to boost services to the hedge fund industry.
Changes afoot at Merrill Lynch
NEW YORK -- A major restructuring of Merrill Lynch’s FX management is underway, according to sources close to the bank in New York.
BoA appoints Mandell as global FX head
NEW YORK -- After months without a global head of its FX business, Bank of America has appointed veteran Christiane Mandell to the role, the bank is expected to announce today (February 9).
Lloyds TSB seeks regional corporate dealers for FX
LONDON -- Lloyds TSB is seeking corporate FX sales dealers for its regional offices across the UK, as part of an effort to increase market share, a London spokesperson told FX Week .
More NAB departures touted
MELBOURNE -- Banking analysts are expecting more departures from National Australia Bank in the wake of its forex options scandal, as chief executive Frank Cicutto resigned last week.
BoA expands Euro fixed income
LONDON -- Bank of America has made four London-based hires to its European fixed-income business, the bank announced last week.